Maple Leaf Has Closed Its $7.2 Million Private Placement
Canada NewsWire
CALGARY, May 4, 2017
(TSX-V: MGW, OTCQB: MGWFF)
May 4, 2017 - $0.56
CALGARY, May 4, 2017 /CNW/ - Maple Leaf Green World (TSXV: MGW) ("Maple Leaf" or the "Company") is pleased to announce that it has closed its upsized non-brokered private placement, which was conditionally approved by the TSX Venture Exchange (the "TSXV") on April 28, 2017, and previously announced in its press releases dated March 17, 2017, March 21, 2017 and May 1, 2017. The Company has issued an aggregate of 13,216,070 units ("Units") at a price of $0.55 per Unit for aggregate gross proceeds of $7,268,838.50 (the "Offering"). Each Unit consists of one common share of Maple Leaf ("Common Shares") and one Common Share purchase warrant ("Warrants"). Each whole Warrant is exercisable into one Common Share at a price of $0.85 per Common Share until May 4, 2019. The Offering is subject to the receipt of final approval of the TSXV. The securities issued under the Offering are subject to a four-month hold period in accordance with applicable Canadian securities laws.
The Company has paid to certain finders a fee equal to 7% of the proceeds raised from subscribers to the Offering introduced to the Corporation by such finders.
The Corporation intends to use the net proceeds from the Offering to advance its engineering and construction plans for its proposed cannabis growing facility in Telkwa, British Columbia. Remaining proceeds, if any, will be used for general corporate purposes.
For further information regarding Maple Leaf Green World Inc., please visit www.mlgreenworld.com.
